“I wouldn’t say we are out there looking for it, but I wouldn’t rule it out,” said Baalke.

There hasn’t been much buzz regarding a Kaepernick trade in recent days, but the expectation was that things were likely to pick up as the draft drew closer.

The Broncos still appear to be the best landing spot for Kaepernick. However, Denver is reportedly asking Kaepernick to accept a pay cut of around $4 million, which is a lot considering that his salary is currently guaranteed.

The 49ers have said that they’ve comfortable keeping Kaepernick and allowing him to complete for the starting job this summer, but the fact that Baalke is willing to say they could trade him publicly goes against their stance.

Kaepernick, 28, is in the third year of his seven-year, $126.97 million contract that included $61 million guaranteed and stands to make a base salary of $13.9 million for the 2016 season.

While those numbers are impressive on their own, the contract is essentially a pay-as-you-go agreement that includes ways for San Francisco to walk away with limited repercussions, as long as Kaepernick is healthy.

According to OverTheCap.com, trading Kaepernick would free up $8,493,493 in available cap space and create $7,397,260 in dead money.

In 2015, Kaepernick threw for 1,615 yards while completing 59.3 percent of his passes to go along with six touchdowns and five interceptions over the course of eight games. He also added 228 yards rushing and a touchdown.

We’ll have more regarding a potential Kaepernick trade as the news is available.